Welcome, Fellow Thrifters! This is a series of blogs by the Manitoba Thrift Hunter meant for thrifters to turn their love of thrifting into earning extra money at the same time.
So, where do you start? Go with what you know. If your knowledge is in music, clothes, or glassware, start there. You’ll begin with a solid understanding of the product.
Before heading out to your favourite thrift store, it’s important to research on eBay (or wherever you plan on selling). Look up the items you plan to start with and check the selling prices. Remember, this is what other sellers are asking for their items. But anyone can ask anything they want. What really matters is the sold price.
Focus on:
For example, if an item sold only once in the last month, you may have to wait a while to sell yours. Ask yourself if it’s worth the time and effort to list.
Ideally, aim for a price that gives you a profit margin of 30-50%. This may seem high, but you need to factor in a few things:
Research shipping costs and ensure they’re worked into your pricing. I’ve learned from experience that shipping from Canada to South America and Mexico can be very expensive. On more than one occasion, I lost money because of it. Shipping to Asia and the Middle East can also be costly, so keep a close eye on shipping expenses.
Tip: I generally offer free shipping in Canada and the U.S. to make my listings more attractive to buyers.
Good luck on your journey!
